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Set off of TDS payble against TDS Receivable.

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(Querist)
08 July 2009 Can a Pvt ltd company set off TDS payable amount against TDS Receivables? Is there any case law for that?
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Ratan Sharma

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Ratan Sharma (Expert)
08 July 2009 Hi,
There is no provision as such in the Income Tax Act. I have not gone through any case law which allows set off of TDS payable against receivable.
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MAHENDRA KUMAR BAGRECHA

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MAHENDRA KUMAR BAGRECHA (Expert)
08 July 2009 You cannot do that becoz the purpose and nature of both the transactions are different under income tax act.
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